Manger Cost, Budget & AP

Purpose statement:To manage Cost, budgeting & Payable functions including identifying trends and opportunities for improvement, provide up to date periodic financial reports that help top management to take timely and appropriate business decisions and train & develop team members for career succession planning.

Duties & Responsibility:

• Manages the preparation of monthly COGS & Overhead reports in compliance with International Financial Reporting Standards (IFRSs) as per group reporting timelines.
• Comply with monthly Group reporting requirements in terms of different operational and performance related reports to be prepared and compiled and submitted on timely manner, such as benchmark reporting, Precision Reporting & Business Statistics.
• Prepare annual COGS & Overhead report for audit by external auditors timely and accurately.
• Monthly margin analysis report to be prepared and circulated at least a week before the margin committee meetings.
• Update on standard costing weekly based on the revised prices of the materials procured.
• Conducting the inventory count each month and identifying the variation from the system and physical and reporting to the senior management along with the reasons for variation by 3rdof each month relating to closing of previous month.
• Immediately send to insurance company the inventory status of the company.
• Keep a track on international prices of the important raw materials such as Soap Noodles, LABSA etc. and calculate the estimated landed pricing and informing the senior management on daily basis.
• Preparation of budget document and its presentation to the local management by November of each year for the next budget year.
• Ad hoc reports to management team from time to time on various areas to closely monitor them.
• Working with Group IT team for updating profitability portal for reviewing on time reports on the portal.
• Reviewing the Consumption of Raw Material & Packing material from standard consumption and advising the senior accountant for corrective measures.
• Investigating the production department in excess or under usage of material consumption and should be reported to the top management immediately.
• Timely apportionment of Overhead expenses to the individual product.
• Analyze the overhead expenses including but not limited to repair & maintenance, fuel, labor and other expenses based on individual cost centers and identifying the reason for such expenses.
• Verify the utility consumption and rate based on the standard consumption & rate.
• Closing the costing system including the cost run by the 4thof next month.
• Reporting of Advances paid to the vendors twice weekly to the local management along with the Guarantee Cheques available against each vendor, showing the material for which, the advances are paid.
• Reviews all invoices for appropriate documentation and approval prior to payment.
• Ensures all negotiated vendor payments are paid in accordance with the contract agreement and accounting policy.
• Ensuring the vendor aging report are properly maintained and cleaned as and when the cash payment occurs on a daily basis / weekly.
• Ensure the advance payments are set-off as and when the goods are received and GRN done.
• Responsible for Vendor Master creation.
• Ensure vendors subsidiary legers are maintained appropriately and continuously reconciled. Send confirmations where necessary.
• Acts as point of contact for staff regarding AP issues, processes, policy and procedures.
• Ensure that payroll expenses are recorded currently against each employee into the system.
• Assists in year-end audit by reviewing audit schedules & replying audit questions.
• Ensure that employees in the Finance Department get proper training to enable them carry out their assignments.
• Facilitates good communications between employees and management through interpersonal and professional communication.
• Maintain and manage vendor data base.
• Ensure all the financial transactions posting are completed on daily base and accurate.
• Assist the Accounting & Reporting Manager in all aspects of group & local report preparation process.
• Performs other duties as necessary to support accounting department.
• Knowledge of payable tax implications.
• Ensure accuracy of data.
• Motivate, direct, coach and develop a diverse, high performing team to meet established goals and build organizational capability.
• Routinely train finance personnel on new efficient way of working.
• Demonstrate behaviors needed for effective implementation of change.
• Continuously assess the team capability and develop training plans and execute.
• Prepare sub-ordinates KPIs and monitor their performance periodically.
• Periodically conducts performance appraisal of subordinates and staff to identify performance gaps or outstanding performance and take appropriate action.
• Attend to sub-ordinate grievances and take corrective action in a timely manner in coordination with CFO & HR.
• Foster an environment that supports an engaged safety and quality culture.
• Maintained a SAFE ZONE to employees by ensuring all hazards are identified, reported and removed.
• Report all unsafe conditions, near misses and unsafe behaviors.
• Reported all accidents and incidents.
• Engaged with employees continuously through safety talk to create awareness.

Qualification:

• BA 8 years or MBA/ MA 6 years or ACCA with 4 years relevant experience of which at least 2 years as Costing Manager or equivalent capacities at manufacturing company or audit firm.
• Hands-on experience on SAP and in-depth knowledge in International Financial Reporting Standards (IFRSs) and its application.
• Good knowledge of the Ethiopian Tax regulations.
• Fluency in English language.

Competencies:

• Extensive knowledge of FICO & MM module.
• Knowledge of costing mechanism and reasoning mind to identify the variance in consumption.
• Time Managemnt
• Skilled in performing accounting procedures;
• preparing and maintaining accurate records compiling & preparing financial reports
• Ability to maintain a high level of confidentiality.
• Ability to define accounting problems and recommend solutions.
• Ability to organize work and set priorities to meet deadlines.
• Coaching skill
• Creative Thinking